Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 30-August-2022

USD/CHF Daily Analysis

With 0.9576 minor support intact, a further rise is expected in USD/CHF. Outlook is unchanged that triangle correction from 1.0063 could have been completed at 0.9369 already. The further rally should be seen to 0.9884 resistance next. Break there will argue that a larger up trend is ready for resumption through 1.0063. On the downside, below 0.9576 minor support will dampen this view and turn bias back to the downside for 0.9369 support instead.

In the bigger picture, current development suggests that the up trend from 0.8756 (2021 low) is still in progress. A sustained break of 1.0063 will target a 100% projection of 0.9149 to 1.0063 from 0.9369 at 1.0283, and then 1.0342 (2016 high). For now, this will remain the favored case as long as 0.9369 support holds, even in case of deep pullback.

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